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Friday, Jan 27, 2023
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Superior Taps New Capital

Superior Industries International Inc. closed a $100 million credit line on Tuesday for growth and working capital. The Van Nuys aluminum wheel manufacturer will receive the senior secured revolving credit facility from J.P. Morgan Securities LLC as the lead arranger, and JPMorgan Chase Bank N.A. as the administrative agent. The credit line expires in December 2019. The facility includes an expansion feature for an additional credit line of $50 million that remains uncommitted to by any lender. Superior will use the money for working capital needs, general corporate purposes and to pursue future opportunities and projects to create profitable growth and shareholder value, the company said in a statement. Shares closed up 32 cents, or 1.6 percent, to $20.03 on the New York Stock Exchange.

Mark Madler
Mark Madler
Mark R. Madler covers aviation & aerospace, manufacturing, technology, automotive & transportation, media & entertainment and the Antelope Valley. He joined the company in February 2006. Madler previously worked as a reporter for the Burbank Leader. Before that, he was a reporter for the City News Bureau of Chicago and several daily newspapers in the suburban Chicago area. He has a bachelor’s of science degree in journalism from the University of Illinois, Urbana-Champaign.
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